Look for Shares of Boot Barn Holdin to Potentially Rebound after Yesterday's 3.20% Sell Off

Written on Thu, 03/14/2019 - 12:55pm

By Nick Russo

Boot Barn Holdin (NYSE:BOOT) traded in a range yesterday that spanned from a low of $27.08 to a high of $27.32. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $27.74 on volume of 237,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Boot Barn Holdin on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.09. Since that recommendation, shares of Boot Barn Holdin have risen 55.4%. We continue to monitor BOOT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Boot Barn Holdin has traded in a range of $15.01 to $31.61 and is now at $27.21, 81% above that low. The 200-day and 50-day moving averages have moved 0.28% higher and 2.99% higher over the past week, respectively.